The Tenfold Monthly

Hello,

In our July edition, we emphasized how Chief Data Scientist roles have quietly become some of the hottest hires in private equity, noting that generative AI is already streamlining memos, modeling, and diligence. This raises questions about how firms will be structured in the future. One month later, the pace of change is jaw‑dropping. OpenAI’s latest ChatGPT Agent scored 71.3% on private‑investment‑banking modeling tests, producing three‑statement forecasts and LBO models that rival entry‑level analysts. This isn’t “AI versus humans,” but it may redefine what an analyst’s job looks like—and reinforce the idea that Chief Data Scientists and AI‑fluent professionals could sit at the top of a much leaner pyramid.

The ecosystem is evolving around this possibility. We’re now seeing the first AI‑native investment bank take shape, claiming to automate much of the grunt work associated with junior staff. Meanwhile, Wall Street’s human‑capital wars continue: Goldman Sachs’ decision to ask analysts to sign quarterly loyalty pledges was met with widespread negativity and a slew of memes, showing how far banks will go to slow the on‑cycle drain into private equity.

This tension raises a strategic question for smaller funds. If on‑cycle hiring continues to slow and banks extend junior tenures, smaller firms may be forced to build direct‑to‑PE analyst programs, lean harder on AI to supplement thin teams, or both. The firms that adapt fastest to this new pipeline, where AI is a co‑worker, not just a tool, will be best positioned to compete.

While talent dynamics evolve, the macro backdrop remains supportive. JPMorgan, Citigroup, and Wells Fargo all beat second‑quarter profit expectations, driven by stronger trading and investment‑banking fees. Resilient bank performance and a pause in tariff uncertainty have led to some thawing in the deal environment.

We’ve seen a strong first half for recruiting, and signs point to continued momentum through the fall. September and October are typically two of the busiest hiring months, as firms aim to wrap key searches before the Thanksgiving slowdown.

If you're considering a move, or building your team, now’s a good time to reach out.

Below, you’ll find the latest stories, opportunities, and insights to help guide your next step.

Let’s dive in.

Community Poll

With AI transforming modeling and diligence work, the traditional deal-execution path is evolving fast. We want to hear from you: how are you adapting your career strategy in response?

We’re proud to support one of the most dynamic platforms in real asset investing. A firm focused on acquiring and managing land beneath mission-critical infrastructure across the energy, digital, and transportation sectors.

As infrastructure demand surges across renewables, data, and logistics, land has become a critical, and often overlooked, lever in enabling long-term sustainability and system resilience. This firm is leading that effort: building a national portfolio of real property beneath the assets shaping tomorrow’s economy.

With hundreds of assets under management across the U.S., the team plays a unique role in powering the energy and data transition from the ground up. Their model blends infrastructure resilience with long-term real estate fundamentals, and they’ve quickly become a trusted counterparty to developers, landowners, and institutional capital alike.

We recently helped the firm hire a Senior Vice President of Corporate Finance to lead capital markets strategy, investor relations, and structured execution.

With that senior seat filled, the team is now looking to grow further. We’re actively hiring an Associate / Senior Associate in Dallas to support firm-wide corporate finance initiatives, including:

• Portfolio optimization and strategic planning

• ABS structuring and capital markets execution

• Investor materials and executive reporting

• High-impact collaboration across acquisitions, asset management, and the C-suite

What makes this opportunity stand out, beyond the asset base and transaction volume, is the culture. The team is values-driven and performance-oriented, but grounded in humility. They care deeply about hiring people who are principled, proactive, innovative, and collaborative. People who want to build, not just execute.

If you’re excited by the intersection of infrastructure, real assets, and capital markets, and want to grow inside a high-integrity, high-impact team, this is worth a conversation.

Unlock exclusive opportunities with leading firms and ensure you're in the running for this year's top positions by submitting your resume today.

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We look forward to sharing more insights, opportunities, and success stories with you next month!

Take care,
The Tenfold Team